The recent ban on Philippine Offshore Gaming Operators (POGOs) has shocked the entire Philippine online gaming industry. POGO was announced during President Ferdinand Marcos Jr.’s State of the Nation Address (SONA).
Impact of POGO ban
The POGO ban takes effect immediately. The move comes in response to growing concerns about the industry’s links to criminal activity. For example, illegal activities include money laundering and human trafficking. As the government plans to shut down online casino operations by the end of 2024, the knock-on effects are being closely monitored.
Economic and social impact
The online gambling industry, once seen as a lucrative revenue stream for the country, is now criticized for the huge social costs it imposes while providing few economic benefits. According to the National Economic and Development Authority (NEDA), POGOs’ contribution to the Philippines’ GDP will be less than 0.5% by 2022, a figure that many believe does not justify the industry’s impact on the country’s reputation and social fabric. The negative impact is legitimate.
The ban is expected to put about 40,000 workers out of work, many of them foreigners. The Philippine Amusement and Gaming Corporation (PAGCOR) is tasked with overseeing the orderly shutdown of online gaming operations and assisting displaced workers during the transition period.
NOT Affected, OKBET Continues Operations
Amid the chaos caused by the POGO ban, Philippine Inland Gaming Operator (PIGO) OKBet promises our customers and stakeholders that we will not be affected by the ban. Unlike POGO, which targets foreign customers and operates under the PIGO license, OKBet operates domestically under the supervision of PAGCOR. As a PIGO, OKBet fully complies with local regulations and provides services continuously and uninterrupted.
“We would like to assure our customers that our business is ongoing and will not be affected by the POGO ban,” an OKBet spokesperson said. “Our commitment to responsible gaming and compliance with Philippine regulations ensures we continue to provide customers with safe and secure services.” gambling environment.
The future of online casinos in the Philippines
As the Philippines grapples with the post-iGaming industry landscape, the focus is expected to shift toward more sustainable and regulated gaming practices. OKBet’s continued operations reflect the potential of a restructured gaming industry that prioritizes integrity, compliance and the welfare of the local economy.
